SimbWealth — Review

SimbWealth recently purchased a “Diamond” listing on the Emily News monitor and we introduced the program to our readers a few days ago. Here is the detailed review that we promised in this introduction. Let’s begin…

SimbWealth is an acronym for Sophisticated Investors and Money Brokers Wealth Management Limited. It is an offshore company that was formed in February of this year. However, the website indicates that the merchants who are involved with SimbWealth already have over ten years collective experience in investment markets. These markets span four general areas:

High-tech industries as well as trading foreign currencies, exchanging stock and FX.

Renting sport cars. “Renting Sport Cars is another department in our company. We make long term car leasing to corporations. We are trying our best to increase our fleet.”

Commercial real estate business. “We do commercial real estate business globally. Our qualified individuals are sophisticated on property management and real estate marketing. We own studio apartments in San Francisco, New York City, and Istanbul.”

Chartering to move refined petroleum products. “We use market knowledge, logistics and global resources to move physical commodities where they’re needed when they’re needed. We develop markets, invest in infrastructure, build bridges and cement alliances to reduce the cost of trading and increase service levels.”

SimbWealth has four investment plans. The names of the plans roughly correspond to these major areas of financial activity of the company. However, I would doubt if funds generated from each of the plans are specifically allocated to the activity indicated by the name of the plan. But, investment plans need names, I suppose. So, these are perfectly fine. One feature all of the plans share is that your principal is returned as part of your earnings; it is not returned to you as a lump sum at the end of the investment term.

Following is a summary of the four plans.

Hi-Tech Industries — 120% Total Gross Earnings

90 days

1.33% daily interest

Net profit = 20%

Cash out Daily / Instant

Min: $10 – Max: $500

Leasing Plan — 160% Total Gross Earnings

180 days

0.89% daily interest

Net profit = 60%

Cash out Daily / Instant

Min: $500$ – Max: $20,000

Real Estate— 225% Total Gross Earnings

365 days

18.75% monthly interest

Net profit = 125%

Investor Accounts

Cash out Monthly / After Expire

Min: $20,000 – Max: $100,000

Chartering — 350% Total Gross Earnings

365 days

29.17% monthly interest

Net profit = 250%

Investor Accounts

Cash out Monthly / After Expire

Min: $100,000 – Max: $500,000

The first two plans pay interest daily and you can withdraw it whenever the money in your account exceeds the minimum withdrawal amount (which doesn’t appear to be given on the website). It is important to note that Simbwealth only works on weekdays. So, interest in these two plans is only paid five days per week — during work days. This can lead to some confusion concerning the term of these two plans. When a person sees “90 Days,” he automatically thinks that this means three calendar months. Since there are only around 22 working days per month and since you only earn interest on working days, the term of the investment is considerably longer than 90 calendar days or three months. Since four times 22 equals 88, very close to 90, I think it is reasonable to say that a 90 working day plan is FOUR months long. Likewise, for the second plan that has a 180 working day term, it would be EIGHT months long. So, these are most definitely long term plans for the HYIP industry.

We just received an email from SimbWealth clarifying this. Interest earnings for these two plans are paid every day of the week — on CALENDAR days, not just WORK days. We have published their email here along with other clarifying information.

As a numerical example, let’s see what would happen if you invested $1,000 in the second plan with a daily interest rate of 0.89%. First of all, your daily interest earnings (on work days) would be $8.90 (.0089 x 1,000). After 180 working days you would earn a total of $1,602 (let’s round it off to $1,600) which represents gross earnings of 160% — as you would expect. It would take you 113 (1000/8.9) working days to break even — over five months, since there are only 22 working days per month. So, in this plan you would only begin to make pure (or net) profit during the last three (out of eight) months. These are long periods of time in the HYIP industry and most programs will not survive this long. However, at least part of the reason for this poor survivability record is the high interest rates that are typically paid. The relatively low (and more sensible?) interest rates paid by SimbWealth might give it a greater chance of being one of the few HYIPs that will survive for a long time. In fact, a recent HYIP Insights article published by Emily News, we suggested that programs with relatively low interest rates — and even investment plans that don’t pay interest on weekends — might be the better choice when it comes to looking for a program that will be around for a long time. Of course, nothing in the HYIP industry is for sure. But, at least in this respect, SimbWealth might be on the right track. You can read the HYIP Insights article here.

I will only comment briefly on the last two programs because the minimum investment amount of $20,000 is way beyond what the typical HYIP investor would invest. It is probably even beyond what the more ambitious investor would invest. These programs run for 365 days and, in this case, I believe it is correct to think of calendar rather than working days. The reason is that, if you take the monthly interest rate that is given and multiply it by 12, you correctly get the annual interest rate. There is some confusion as to when these monthly interest earnings can be withdrawn. On one hand, the foregoing summary listing says, “cash out monthly.” On the other it says “after expire.” “Cash out monthly” seems to be a clear statement that you can withdraw your monthly interest earnings on a monthly basis. However, “after expire” seems to be saying that you have to wait a total of 12 months till the expiration (the end) of the investment plan before you can withdraw anything. We hope that the admin of the program will clarify this issue in the near future. If, indeed, a person has to wait a full year before he will receive any benefit from the program, I seriously doubt if these plans will attract many customers. And, even if it is possible to withdraw earnings on a monthly basis, the programs will still be unpopular as the minimum investments will be way beyond the means of the average HYIP investor.

You can deposit and withdraw from SimbWealth by means of any of the following payment processors: Paypal, Payeer, Perfect Money, and BitCoin. Paypal is uncommon in the HYIP industry and some investors might like that addition. Deposits are processed instantly and withdrawals can take up to 24 hours.

The SimbWealth referral program pays you 10% of the deposits made by people you refer to the program (the first level of your downline), 5% of deposits made by people on the second level, and 2% of deposits made on the third. Compared to referral commissions offered by other HYIPs, this is very satisfactory and should enable the diligent marketer to significantly increase his earnings from this program.

If you need help or have questions that need to be answered, Simbwealth provides an email contact address as well as the standard support form. If response time is good, these means of support can be very good. However, perhaps after the program grows a bit, live chat would be a welcome addition to these contact methods. Nothing beats instant answers when a problem arises…

In closing, it appears that SimbWealth is a bit different than the typical HYIP. Its investment plans are all long term with modest interest rates. The two lower end plans might be of special interest to the conservative HYIP investor. However, if you do choose to invest with SimbWealth, we must advise that you diversify your investment portfolio by investing in other programs as well. “Never put all your eggs in one basket.” And, never invest more than you can afford to lose. Good Luck!

To the Admin: We always welcome comments on our reviews — pro or con — and we will be happy to publish them in the Emily News blog.

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Please don’t forget that you can post your screenshots of payment, scam, or other proofs related to a program by clicking on the “Details” button in the Emily News monitor. Also, don’t forget that you can add your referral link when you post your proofs — another way to build your downline.

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